Golf courses have long been a favorite location for entertaining clients, and Tennessee National should be no exception. Look for a lot of business deals to get done on the Greg Norman-designed course in coming years.
A corporate membership provides full Tennessee National privileges - access to the clubhouse, pro shop, driving range and other practice facilities - for three people designated by the corporate member and the designees' family members.
Corporate memberships require a $75,000 deposit, 80 percent of which is refundable should the corporate member resign, said Kelly Townsend, marketing director for Tennessee National.
Interest in memberships has been strong. The course, which opened about a month ago, has sold all founding memberships and just more than half of the charter memberships offered. A $30,000 refundable deposit is required for a charter membership, Townsend said.
Total membership for the course will be capped at 450, Townsend said.
The waterfront course is the centerpiece of a gated residential community, which will have about 1,700 homes spread across 1,450 acres in the city of Loudon in the Matlock Bend area of the Tennessee River on Watts Bar Lake.
Ten homes are under construction, and the first Tennessee National residents moved in late last month, Townsend said.
Tennessee National is being built by Chattanooga businessman John "Thunder" Thornton and Medallist Developments, a joint venture of Norman's Great White Shark Enterprises and Macquarie Bank of Australia.